BTC Surpasses $124,000 and Sets a New Record
According to Darkex data, the crypto market showed strong momentum, rising between 2% and 8% in the last 24 hours. Bitcoin rose 3.58% to briefly surpass $124,000, with a market value of $2.457 trillion. Ethereum rose 3.44% to pass the $4,700 level, while double-digit gains were seen in the Layer2, Meme, and CeFi sectors; OKB also stood out with a 132.71% increase.
Bessent Repeats Call for Interest Rate Cut, Markets Expect Cut in September
US Treasury Secretary Bessent emphasized the need to cut interest rates by 150–175 basis points, indicating a high likelihood of a 50-basis-point cut in September. Trump expanded the list of Fed chair candidates to 11 and said the shortlist could be narrowed down to “three or four” names. Fed officials, meanwhile, maintained their flexible stance, saying they would wait for August and September data before making a decision.
US Postpones Tariff Decisions on Drugs and Certain Sectors
The Trump administration will postpone for several weeks the announcement of the results of its investigation into tariffs on drug imports and certain sectors. In July, container imports from China to the ports of Los Angeles and Long Beach reached a new record of 1,011,809, surpassing pandemic-era levels. The increase is attributed to retailers and manufacturers rapidly increasing their inventories ahead of planned tariffs in August.
China’s July Credit Data Exceeded Expectations
New RMB loans decreased by 50 billion yuan, outperforming expectations. M2 money supply rose 8.8% year-on-year, exceeding expectations; M1 rose 5.6% and M0 rose 11.8%. Total financing amounted to 1.16 trillion yuan.
Trump Reaches Agreement with European Leaders on Ukraine Ahead of Putin Meeting
Trump set red lines on Ukraine with European Commission President von der Leyen and many European leaders. He said he would not negotiate with Putin on territorial issues and would encourage him to meet directly with Zelensky. He warned that there would be serious consequences if Putin did not accept a ceasefire by the end of the week.
El Salvador’s Bitcoin Investments Yield 115% Return
El Salvador has accumulated a total of 1,000 BTC by purchasing 1 BTC every day since November 2022. With an average purchase price of $57,793, the current value of the investments has reached $124 million. As a result, the country has realized an unrealized profit of $66 million (approximately 115%).
Cathie Wood’s Ark Invest funds purchased a total of 2.53 million Bullish (BLSH) shares. The portfolio value after the transaction reached approximately $172.2 million. The purchases were made through the ARKK, ARKW, and ARKF funds.
Bain Capital Ventures Sold COMP Tokens Worth $18.85 Million
According to on-chain analysis, Bain Capital Ventures, one of Compound’s lead investors, transferred 349,000 COMP tokens to an institutional platform. Some of the tokens were transferred to Binance, OKX, Bybit, and Gate. These COMP tokens were among the assets the company acquired from Compound five years ago.
SpaceX’s BTC holdings exceed $1 billion
According to Arkham data, Elon Musk’s company SpaceX’s BTC holdings have reached 8,285. The company has been holding Bitcoin since January 2021. At current prices, the value of these assets has exceeded $1 billion.
Hyperliquid Bought Back $253 Million Worth of HYPE Tokens
Hyperliquid spent $253 million to buy back 7.07 million HYPE tokens and made a profit of $77.3 million. Raydium, Aave, and Etherfi also made buybacks, but BONK, GMX, and some other projects reported losses. Pumpfun and Jupiter’s buyback losses exceeded $14 million.
Strong inflows continue in BTC and ETH spot ETFs
Bitcoin spot ETFs have seen consecutive inflows over the past six days, with a total net inflow of 86.91 million dollars on the last trading day. Ethereum spot ETFs reached their second-highest level in history with a net inflow of 729 million dollars. BlackRock’s ETHA fund led the way with a single-day inflow of 501 million dollars.
